The objective of the study was to examine effect of dividend policy on market price of shares of some selected commercial banks in, Nigeria. In an attempt to achieve the broad objective of the study, two hypotheses was raised in the study for validation using secondary data covering the period of 2009 to 2014 collected from daily official list of NSE, 2008-2014. The multiple regression method was used in the analysis and the result was facilitated using the statistical package for social and sciences (SPSS 20.0). The result of the analysis at 5% level of significance shows that there is an insignificant positive relationship between the share price and earning per share of the selected commercial banks. Also it was established that there is an insignificant positive relationship between share price volatility and the dividend growth pattern of the selected commercial banks. Among others, the study recommends that there is a need for a policy to ensure the growth of dividend of the banks without necessary affecting the optimization of business wealth.
TABLE OF CONTENT
CHAPTER ONE- INTRODUCTION
1.3 Background to the Study
1.2 Statement of the Problem
1.3 Objective of the Study
1.4 Research Questions
1.5 Research Hypotheses
1.6 Justification for the study
1.7 Source of Data and Methodology
1.8 Scope of the Study
1.9 Plan of the Study
CHAPTER TWO- LITERATURE REVIEW
2.0 Introduction
2.1Conceptual Review
2.1.1The Concept of Dividend and Dividend Policy
2.1.2Objectives of Dividend Policy
2.1.3Forms and Types of Dividend Policy
2.1.4 Patterns of Dividend Payments
2.1.5Constraints of Dividend Growth Pattern (Constraints)
2.2 Theoretical Review
2.2.1 The Residual Theory
2.2.2 The Relevance Theory
2.2.3 The Irrelevance Theory
2.2.4 Pecking Order Theory
2.3 Empirical Literature
CHAPTER THREE – RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research Design
3.3 Study Area
3.4 Population of the Study
3.5 Sample Size and Sampling method
3.6 procedure for Data Collection
3.9 Procedure of Data Analysis
CHAPTER FOUR- PRESENTATION AND ANALYSIS OF DATA
4.1 Presentation of Data
4.2 Hypotheses Testing
4.3 Discussion of Findings
CHAPTER FIVE– SUMMARY, CONCLUSION, AND RECOMMENDATIONS
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendations
5.4 Suggestions for Future Studies
REFERENCES
